BTC Volatility Analysis for International Exports, 8th June 2021

Data Analysis

The data released by Bureau of Census, Bureau of Economic Analysis for International Exports in Goods and Services on 8th June, 2021 has come in at an increase to $209.1B for April 2021. Compared to the previous release for March 2021 at $209B, we can see that foreign trade is increasing month over month.

To see the impact and volatility of BTC's price during the International Exports release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 15,036 BTC with prices swinging between 32,651.52 and 33,337.27, representing a swing of 2.06%. Subsequently, the trading volume increased significantly by 114% to 32,125 BTC. Price action ranged from a low of 31,000.00 to a high of 33,079.03, a significant difference of 6.29%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 515 BTC in trading volume was observed prior to the data release. Prices ranged between a low of 32,982.28 to a high of 33,138.66, a 0.47% change. Immediately following, trading volume increased by 30% to 667 BTC. At this time, Bitcoin hit a low of 32,821.00 with a high of 33,079.03, a significant change of 0.78%.

About International Exports in Goods and Services

International Exports measures economic transactions between a nation and its trading partners, showing the amount of a country's exports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move out of the country. Economists use this information to gauge the relative strength of a country's economy.